{"id":2199,"date":"2025-07-22T18:29:33","date_gmt":"2025-07-22T18:29:33","guid":{"rendered":"https:\/\/live-spx-corp.pantheonsite.io\/?p=2199"},"modified":"2025-07-29T19:53:00","modified_gmt":"2025-07-29T19:53:00","slug":"spx-reports-second-quarter-2020-results","status":"publish","type":"post","link":"https:\/\/spx.com\/fr\/spx-reports-second-quarter-2020-results\/","title":{"rendered":"SPX Reports Second Quarter 2020 Results"},"content":{"rendered":"

Q2 GAAP EPS of\u00a0$0.62; Adjusted EPS* of\u00a0$0.64
\n<\/strong>Balanced Portfolio Supported Strong Q2 Results
\n<\/strong>Successfully Navigating COVID-19 Challenges<\/strong><\/p>\n

CHARLOTTE, N.C.,\u00a0July 30, 2020\u00a0(GLOBE NEWSWIRE) —\u00a0SPX Corporation\u00a0(NYSE:SPXC) today reported results for the quarter ended\u00a0June 27, 2020.<\/p>\n

Gene Lowe, President and CEO, remarked, \u201cI am very pleased with our second quarter performance, which reflects solid operational execution and highlights the strengths of our balanced portfolio and our business system, which has allowed us to quickly adapt to changing conditions. Although we experienced COVID-19 pandemic-related headwinds during Q2, we maintained stable revenues and adjusted operating income.\u201d<\/p>\n

Mr. Lowe\u00a0continued, \u201cAs we assess the key drivers of our performance for the second half of 2020, we see continued risks associated with the spread of COVID-19 in our largest market,\u00a0the United States. However, we have multiple tools to continue successfully navigating through the pandemic, and anticipate generating significant cash and profits during the remainder of the year.\u00a0 We ended the second quarter with a very strong balance sheet and available liquidity, positioning us for continued capital deployment, including attractive acquisition opportunities that accelerate our strategic growth plans.\u201d<\/p>\n

Second Quarter 2020 Overview:<\/strong><\/p>\n

For the second quarter of 2020, the company reported revenue of\u00a0$373.2 million\u00a0and operating income of\u00a0$34.4 million, compared with revenue of\u00a0$372.4 million\u00a0and operating income of\u00a0$26.3 million\u00a0in the second quarter of 2019. Diluted income per share from continuing operations in the second quarter of 2020 was\u00a0$0.62, compared with a diluted income per share from continuing operations of\u00a0$0.43\u00a0in the second quarter of 2019.<\/p>\n

SPX\u2019s adjusted revenue* was\u00a0$371.2 million\u00a0and adjusted operating income* was\u00a0$41.5 million, compared with adjusted revenue* of\u00a0$371.6 million\u00a0and adjusted operating income* of\u00a0$40.7 million\u00a0in the second quarter of 2019.\u00a0Adjusted income per share* in the second quarter of 2020 was\u00a0$0.64, compared with\u00a0$0.67\u00a0in the second quarter of 2019.<\/p>\n

Second Quarter and Year-to-Date Financial Comparison:<\/p>\n

GAAP Results:<\/strong><\/p>\n\n\n\n\n\n\n
($ millions)<\/strong><\/td>\n<\/td>\nQ2 2020<\/strong><\/td>\n<\/td>\nQ2 2019<\/strong><\/td>\n<\/td>\n2020 YTD<\/strong><\/td>\n<\/td>\n2019 YTD<\/strong><\/td>\n<\/tr>\n
Revenue<\/td>\n<\/td>\n$<\/td>\n373.2<\/td>\n<\/td>\n$<\/td>\n372.4<\/td>\n<\/td>\n$<\/td>\n742.5<\/td>\n<\/td>\n$<\/td>\n716.0<\/td>\n<\/tr>\n
Segment Income<\/td>\n<\/td>\n<\/td>\n47.6<\/td>\n<\/td>\n<\/td>\n41.4<\/td>\n<\/td>\n<\/td>\n94.8<\/td>\n<\/td>\n<\/td>\n62.2<\/td>\n<\/tr>\n
Operating Income<\/td>\n<\/td>\n<\/td>\n34.4<\/td>\n<\/td>\n<\/td>\n26.3<\/td>\n<\/td>\n<\/td>\n67.1<\/td>\n<\/td>\n<\/td>\n29.3<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Adjusted Results:<\/strong><\/p>\n\n\n\n\n\n\n
($ millions)<\/strong><\/td>\n<\/td>\nQ2 2020<\/strong><\/td>\n<\/td>\nQ2 2019<\/strong><\/td>\n<\/td>\n2020 YTD<\/strong><\/td>\n<\/td>\n2019 YTD<\/strong><\/td>\n<\/tr>\n
Adjusted Revenue*<\/td>\n<\/td>\n$<\/td>\n371.2<\/td>\n<\/td>\n$<\/td>\n371.6<\/td>\n<\/td>\n$<\/td>\n736.5<\/td>\n<\/td>\n$<\/td>\n723.1<\/td>\n<\/tr>\n
Adjusted Segment Income*<\/td>\n<\/td>\n<\/td>\n54.2<\/td>\n<\/td>\n<\/td>\n54.7<\/td>\n<\/td>\n<\/td>\n108.0<\/td>\n<\/td>\n<\/td>\n101.0<\/td>\n<\/tr>\n
Adjusted Operating Income*<\/td>\n<\/td>\n<\/td>\n41.5<\/td>\n<\/td>\n<\/td>\n40.7<\/td>\n<\/td>\n<\/td>\n80.7<\/td>\n<\/td>\n<\/td>\n72.6<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

* Non-GAAP financial measure. See attached schedules for reconciliation to most comparable GAAP financial measure.<\/p>\n

CVC<\/strong><\/p>\n

Revenue for Q2\u00a02020 was\u00a0$132.3 million, compared with\u00a0$130.9 million\u00a0in Q2\u00a02019, an increase of 1.1%, including a 10.4% increase from acquisitions and a 0.4% unfavorable impact related to currency fluctuation. Organic revenue* decreased 8.9%, primarily reflecting an increase in international cooling volumes, more than offset by a decline in demand for heating products, including a negative impact of the COVID-19 pandemic on customer demand.<\/p>\n

Segment income in Q2\u00a02020 was\u00a0$18.2 million, compared to\u00a0$16.7 million\u00a0in Q2 2019.\u00a0 Adjusted segment income*, which excludes intangible amortization expense of\u00a0$0.7 million, was\u00a0$18.9 million, or 14.3% of revenue. This compares with adjusted segment income* of\u00a0$16.8 million, or 12.8% of revenue in Q2\u00a02019, which excludes intangible amortization expense of\u00a0$0.1 million.\u00a0 The increase in adjusted segment income* and 150 basis points increase in adjusted segment income margin* were due to stronger operational execution and a more favorable product mix in our domestic cooling business.<\/p>\n

Detection & Measurement<\/strong><\/p>\n

Revenue for Q2\u00a02020 was\u00a0$92.1 million, compared with\u00a0$101.7 million\u00a0in Q2\u00a02019, a decrease of 9.4%, including a 0.5% unfavorable impact related to currency fluctuation. Organic revenue* decreased 8.9%, largely due to lower sales of Communication Technologies and Locators products, with a significant portion of the decrease attributable to lower customer demand and project order delays associated with the COVID-19 pandemic.<\/p>\n

Segment income in Q2 2020 was\u00a0$16.0 million, compared to\u00a0$21.7 million\u00a0in Q2 2019. Adjusted segment income*, which excludes intangible amortization expense of\u00a0$1.7 million, was\u00a0$17.7 million, or 19.2% of revenue. This compares with adjusted segment income* of\u00a0$24.9 million, or 24.5% of revenue, in Q2 2019, which excludes intangible amortization expense of\u00a0$2.3 million\u00a0and acquisition-related costs of\u00a0$0.9 million.\u00a0 The 530 basis points decrease in adjusted segment income margin* was driven primarily by the decrease in volumes noted above and a less favorable business mix associated with lower shipments of higher margin products.<\/p>\n

Engineered Solutions<\/strong><\/p>\n

Revenue in Q2\u00a02020 was\u00a0$146.8 million, compared with\u00a0$139.0 million\u00a0in Q2\u00a02019, an increase of 5.6%, which included an organic increase of 5.9% and a 0.3% unfavorable impact related to currency fluctuation. The organic increase was driven by higher revenue in our Transformers business, associated with higher manufacturing throughput due to improved execution.<\/p>\n

Segment income in Q2\u00a02020 was\u00a0$17.6 million, or 12.0% of revenue, compared with segment income of\u00a0$13.0 million, or 9.4% of revenue, in Q2\u00a02019. The increase in income and margin was driven by a more favorable sales mix, improved pricing discipline, and improved throughput at the Transformers business\u2019s manufacturing facilities.<\/p>\n

All Other<\/em><\/p>\n

All Other, which includes the South African and Heat Transfer operations, had revenue of\u00a0$2.0 million\u00a0in Q2 2020, compared with\u00a0$0.8 million\u00a0in Q2 2019.\u00a0 The increase was due largely to a prior-year adjustment that reduced the cumulative revenue associated with the South African projects by\u00a0$6.0 million\u00a0in Q2 2019.<\/p>\n

All Other incurred a loss in Q2 2020 of\u00a0$4.2 million, compared with a loss of\u00a0$10.0 million\u00a0in Q2 2019.\u00a0 The decrease in the loss was due primarily to the revenue adjustment noted above associated with the South African projects in the prior year period.<\/p>\n

Financial Update:<\/strong><\/p>\n

As of\u00a0June 27, 2020, SPX had total outstanding debt of\u00a0$517.9 million\u00a0and total cash of\u00a0$190.2 million.\u00a0During Q2 2020, SPX generated net operating cash from continuing operations of\u00a0$27.1 million.\u00a0 Net leverage, as calculated under the company\u2019s bank credit agreement, was 1.5x, a modest reduction from Q1 2020.<\/p>\n

Non-GAAP Presentation:<\/strong>\u00a0To provide additional clarity to its operating results, the company discusses results that include \u201cadjusted\u201d non-GAAP financial measures. Adjusted results for the company exclude, among other items, the effect of the South African and Heat Transfer operations, categorized as \u201cAll Other\u201d in the company\u2019s segment reporting structure. The company reports separately on the results of the \u201cAll Other\u201d category. The company anticipates reporting the results of businesses included in the \u201cAll Other\u201d category as discontinued operations, at such time as they meet the accounting requirements for this treatment.<\/p>\n

Form 10-Q:<\/strong>\u00a0 The company expects to file its quarterly report on Form 10-Q for the quarter ended\u00a0June 27, 2020\u00a0with the\u00a0Securities and Exchange Commission\u00a0on or before\u00a0August 6, 2020. This press release should be read in conjunction with that filing, which will be available on the company’s website at\u00a0www.spx.com<\/a>, in the Investor Relations section.<\/p>\n

Conference Call:<\/strong>\u00a0 SPX will host a conference call at\u00a04:45 p.m. (EDT)\u00a0today to discuss first quarter results. The call will be simultaneously webcast via the company’s website at\u00a0www.spx.com<\/a>\u00a0and the slide presentation will be available in the Investor Relations section of the site.<\/p>\n

Conference call
\nDial in:\u00a0 877-341-7727
\nFrom outside the United States:\u00a0 +1 262-558-6098
\nParticipant code:\u00a0 3089269<\/p>\n

A replay of the call will be available by telephone through\u00a0Thursday, August 6th<\/sup>.<\/p>\n

To listen to a replay of the call
\nDial in:\u00a0 855-859-2056
\nFrom outside the United States:\u00a0 +1 404-537-3406
\nParticipant code:\u00a0 3089269<\/p>\n

Upcoming Investor Events:\u00a0\u00a0<\/strong>Company management plans to conduct virtual meetings with investors during the third quarter of 2020 and SPX will also be virtually participating in the\u00a0Ideas Conference\u00a0on\u00a0August 27th<\/sup>, the Vertical Annual\u00a0Global Industrials Conference\u00a0on\u00a0September 9th<\/sup>, and the\u00a0Sidoti Fall Conference\u00a0on\u00a0September 23rd<\/sup>.<\/p>\n

About\u00a0SPX Corporation<\/strong>:\u00a0\u00a0SPX Corporation\u00a0is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC, detection and measurement, and engineered solutions markets. Based in\u00a0Charlotte, North Carolina,\u00a0SPX Corporation\u00a0had approximately\u00a0$1.5 billion\u00a0in annual revenue in 2019 and over 4,500 employees in 17 countries.\u00a0SPX Corporation\u00a0is listed on the\u00a0New York Stock Exchange\u00a0under the ticker symbol \u201cSPXC.\u201d\u00a0 For more information, please visit\u00a0www.spx.com<\/a>.<\/p>\n

*Non-GAAP financial measure. See attached schedules for reconciliation to most comparable GAAP financial measure.<\/p>\n

Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section\u00a021E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. Actual results may differ materially from these statements. The words \u201cbelieve,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cproject\u201d and similar expressions identify forward-looking statements. Please read these forward-looking statements in conjunction with the company\u2019s documents filed with the\u00a0Securities and Exchange Commission, including the company\u2019s most recent annual report on Form\u00a010-K and its most recent quarterly report on Form 10-Q. These filings identify important risk factors and other uncertainties that could cause actual results to differ from those contained in the forward-looking statements. In addition to the risks and uncertainties identified in those filings, the forward-looking statements contained in this press release are subject to risks and uncertainties related to the COVID-19 pandemic, including the impact of the pandemic or related government responses on the company\u2019s businesses, the businesses of its customers and vendors, and whether the company\u2019s businesses and those of its customers and vendors will continue to be treated as \u201cessential\u201d operations under government orders restricting business activities or, even if so treated, whether health and safety concerns might otherwise require certain of the company\u2019s operations to be halted for some period of time. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. In addition, forward-looking statements are based on the company\u2019s current complement of businesses, which is subject to change.<\/p>\n

Statements in this press release speak only as of the date of this press release, and SPX disclaims any responsibility to update or revise such statements.<\/p>\n

SOURCE\u00a0SPX Corporation.<\/p>\n

Investor and Media Contacts:<\/strong>
\nMark A. Carano, vice-pr\u00e9sident, directeur financier et tr\u00e9sorier
\nPhone:\u00a0 980-474-3806
\nE-mail:\u00a0spx.investor@spx.com<\/a><\/p>\n

Pat Uotila, Manager, Investor Relations
\nPhone:\u00a0 980-474-3806
\nE-mail:\u00a0spx.investor@spx.com<\/a><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
SPX CORPORATION AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS<\/strong><\/td>\n<\/tr>\n
(Unaudited; in millions, except per share amounts)<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\nThree months ended<\/strong><\/td>\n<\/td>\nSix months ended<\/strong><\/td>\n<\/tr>\n
<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\nJune 29, 2019<\/strong><\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\nJune 29, 2019<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Revenues<\/td>\n$<\/td>\n373.2<\/td>\n<\/td>\n<\/td>\n$<\/td>\n372.4<\/td>\n<\/td>\n<\/td>\n$<\/td>\n742.5<\/td>\n<\/td>\n<\/td>\n$<\/td>\n716.0<\/td>\n<\/td>\n<\/tr>\n
Costs and expenses:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Cost of products sold<\/td>\n<\/td>\n259.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n264.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n514.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n524.6<\/td>\n<\/td>\n<\/tr>\n
Selling, general and administrative<\/td>\n<\/td>\n75.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n78.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n154.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n154.9<\/td>\n<\/td>\n<\/tr>\n
Intangible amortization<\/td>\n<\/td>\n2.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n2.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n5.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n4.0<\/td>\n<\/td>\n<\/tr>\n
Special charges, net<\/td>\n<\/td>\n1.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.4<\/td>\n<\/td>\n<\/tr>\n
Other operating (income) expense<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.4<\/td>\n)<\/td>\n<\/td>\n<\/td>\n1.8<\/td>\n<\/td>\n<\/tr>\n
Operating income<\/td>\n<\/td>\n34.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n26.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n67.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n29.3<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Other income, net<\/td>\n<\/td>\n5.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n6.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n9.1<\/td>\n<\/td>\n<\/tr>\n
Interest expense<\/td>\n<\/td>\n(4.8<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(5.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(9.5<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(10.6<\/td>\n)<\/td>\n<\/tr>\n
Interest income<\/td>\n<\/td>\n0.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.9<\/td>\n<\/td>\n<\/tr>\n
Income from continuing operations before income taxes<\/td>\n<\/td>\n35.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n23.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n64.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n28.7<\/td>\n<\/td>\n<\/tr>\n
Income tax provision<\/td>\n<\/td>\n(7.1<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(4.1<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(13.1<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(8.7<\/td>\n)<\/td>\n<\/tr>\n
Income from continuing operations<\/td>\n<\/td>\n28.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n19.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n51.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n20.0<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Income (loss) from discontinued operations, net of tax<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/tr>\n
Loss on disposition of discontinued operations, net of tax<\/td>\n<\/td>\n(1.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(0.2<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(1.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(1.6<\/td>\n)<\/td>\n<\/tr>\n
Loss from discontinued operations, net of tax<\/td>\n<\/td>\n(1.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(0.2<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(1.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(1.6<\/td>\n)<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Net income<\/td>\n$<\/td>\n27.1<\/td>\n<\/td>\n<\/td>\n$<\/td>\n19.2<\/td>\n<\/td>\n<\/td>\n$<\/td>\n49.8<\/td>\n<\/td>\n<\/td>\n$<\/td>\n18.4<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Basic income per share of common stock:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Income from continuing operations<\/td>\n$<\/td>\n0.64<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.44<\/td>\n<\/td>\n<\/td>\n$<\/td>\n1.15<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.46<\/td>\n<\/td>\n<\/tr>\n
Loss from discontinued operations<\/td>\n<\/td>\n(0.03<\/td>\n)<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.03<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(0.04<\/td>\n)<\/td>\n<\/tr>\n
Net income per share<\/td>\n$<\/td>\n0.61<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.44<\/td>\n<\/td>\n<\/td>\n$<\/td>\n1.12<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.42<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Weighted-average number of common shares outstanding \u2014 basic<\/td>\n<\/td>\n44.590<\/td>\n<\/td>\n<\/td>\n<\/td>\n43.914<\/td>\n<\/td>\n<\/td>\n<\/td>\n44.452<\/td>\n<\/td>\n<\/td>\n<\/td>\n43.767<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Diluted income per share of common stock:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Income from continuing operations<\/td>\n$<\/td>\n0.62<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.43<\/td>\n<\/td>\n<\/td>\n$<\/td>\n1.12<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.45<\/td>\n<\/td>\n<\/tr>\n
Loss from discontinued operations<\/td>\n<\/td>\n(0.03<\/td>\n)<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.03<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(0.04<\/td>\n)<\/td>\n<\/tr>\n
Net income per share<\/td>\n$<\/td>\n0.59<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.43<\/td>\n<\/td>\n<\/td>\n$<\/td>\n1.09<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.41<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Weighted-average number of common shares outstanding \u2014 diluted<\/td>\n<\/td>\n45.648<\/td>\n<\/td>\n<\/td>\n<\/td>\n44.892<\/td>\n<\/td>\n<\/td>\n<\/td>\n45.620<\/td>\n<\/td>\n<\/td>\n<\/td>\n44.750<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
SPX CORPORATION AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n
CONDENSED CONSOLIDATED BALANCE SHEETS<\/strong><\/td>\n<\/tr>\n
(Unaudited; in millions)<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\nDecember 31, 2019<\/strong><\/td>\n<\/tr>\n
ASSETS<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Current assets:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Cash and equivalents<\/td>\n$<\/td>\n190.2<\/td>\n<\/td>\n<\/td>\n$<\/td>\n54.7<\/td>\n<\/td>\n<\/tr>\n
Accounts receivable, net<\/td>\n<\/td>\n239.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n265.9<\/td>\n<\/td>\n<\/tr>\n
Contract assets<\/td>\n<\/td>\n65.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n63.4<\/td>\n<\/td>\n<\/tr>\n
Inventories, net<\/td>\n<\/td>\n181.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n154.9<\/td>\n<\/td>\n<\/tr>\n
Other current assets (includes income taxes receivable of\u00a0$24.9\u00a0and\u00a0$23.0\u00a0at\u00a0June 27, 2020\u00a0and\u00a0December 31, 2019, respectively)<\/td>\n<\/td>\n92.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n93.2<\/td>\n<\/td>\n<\/tr>\n
Total current assets<\/td>\n<\/td>\n769.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n632.1<\/td>\n<\/td>\n<\/tr>\n
Property, plant and equipment:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Land<\/td>\n<\/td>\n19.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n18.7<\/td>\n<\/td>\n<\/tr>\n
Buildings and leasehold improvements<\/td>\n<\/td>\n120.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n121.9<\/td>\n<\/td>\n<\/tr>\n
Machinery and equipment<\/td>\n<\/td>\n349.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n342.6<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n489.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n483.2<\/td>\n<\/td>\n<\/tr>\n
Accumulated depreciation<\/td>\n<\/td>\n(311.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(304.1<\/td>\n)<\/td>\n<\/tr>\n
Property, plant and equipment, net<\/td>\n<\/td>\n178.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n179.1<\/td>\n<\/td>\n<\/tr>\n
Goodwill<\/td>\n<\/td>\n451.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n449.3<\/td>\n<\/td>\n<\/tr>\n
Intangibles, net<\/td>\n<\/td>\n246.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n251.7<\/td>\n<\/td>\n<\/tr>\n
Other assets<\/td>\n<\/td>\n603.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n605.9<\/td>\n<\/td>\n<\/tr>\n
Deferred income taxes<\/td>\n<\/td>\n8.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n16.4<\/td>\n<\/td>\n<\/tr>\n
TOTAL ASSETS<\/td>\n$<\/td>\n2,256.4<\/td>\n<\/td>\n<\/td>\n$<\/td>\n2,134.5<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
LIABILITIES AND EQUITY<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Current liabilities:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Accounts payable<\/td>\n$<\/td>\n137.9<\/td>\n<\/td>\n<\/td>\n$<\/td>\n141.6<\/td>\n<\/td>\n<\/tr>\n
Contract liabilities<\/td>\n<\/td>\n91.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n100.8<\/td>\n<\/td>\n<\/tr>\n
Accrued expenses<\/td>\n<\/td>\n201.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n220.4<\/td>\n<\/td>\n<\/tr>\n
Income taxes payable<\/td>\n<\/td>\n2.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n2.2<\/td>\n<\/td>\n<\/tr>\n
Short-term debt<\/td>\n<\/td>\n266.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n142.6<\/td>\n<\/td>\n<\/tr>\n
Current maturities of long-term debt<\/td>\n<\/td>\n4.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.0<\/td>\n<\/td>\n<\/tr>\n
Total current liabilities<\/td>\n<\/td>\n704.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n608.6<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Long-term debt<\/td>\n<\/td>\n247.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n249.9<\/td>\n<\/td>\n<\/tr>\n
Deferred and other income taxes<\/td>\n<\/td>\n26.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n26.3<\/td>\n<\/td>\n<\/tr>\n
Other long-term liabilities<\/td>\n<\/td>\n727.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n747.3<\/td>\n<\/td>\n<\/tr>\n
Total long-term liabilities<\/td>\n<\/td>\n1,000.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n1,023.5<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Equity:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Common stock<\/td>\n<\/td>\n0.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.5<\/td>\n<\/td>\n<\/tr>\n
Paid-in capital<\/td>\n<\/td>\n1,303.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n1,302.4<\/td>\n<\/td>\n<\/tr>\n
Retained deficit<\/td>\n<\/td>\n(535.5<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(584.8<\/td>\n)<\/td>\n<\/tr>\n
Accumulated other comprehensive income<\/td>\n<\/td>\n235.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n244.3<\/td>\n<\/td>\n<\/tr>\n
Common stock in treasury<\/td>\n<\/td>\n(451.6<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(460.0<\/td>\n)<\/td>\n<\/tr>\n
Total equity<\/td>\n<\/td>\n552.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n502.4<\/td>\n<\/td>\n<\/tr>\n
TOTAL LIABILITIES AND EQUITY<\/td>\n$<\/td>\n2,256.4<\/td>\n<\/td>\n<\/td>\n$<\/td>\n2,134.5<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
SPX CORPORATION AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n
RESULTS OF REPORTABLE AND OTHER OPERATING SEGMENTS<\/strong><\/td>\n<\/tr>\n
(Unaudited; in millions)<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nThree months ended<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\nSix months ended<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\nJune 29, 2019<\/strong><\/td>\n<\/td>\n\u0394<\/strong><\/td>\n<\/td>\n%\/bps<\/strong><\/em><\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\nJune 29, 2019<\/strong><\/td>\n<\/td>\n\u0394<\/strong><\/td>\n<\/td>\n%\/bps<\/strong><\/em><\/td>\n<\/tr>\n
HVAC reportable segment<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Revenues<\/td>\n<\/td>\n$<\/td>\n132.3<\/td>\n<\/td>\n<\/td>\n$<\/td>\n130.9<\/td>\n<\/td>\n<\/td>\n$<\/td>\n1.4<\/td>\n<\/td>\n<\/td>\n1.1<\/em><\/td>\n%<\/em><\/td>\n<\/td>\n$<\/td>\n250.8<\/td>\n<\/td>\n<\/td>\n$<\/td>\n259.3<\/td>\n<\/td>\n<\/td>\n$<\/td>\n(8.5<\/td>\n)<\/td>\n<\/td>\n(3.3<\/em><\/td>\n)%<\/em><\/td>\n<\/tr>\n
Gross profit<\/td>\n<\/td>\n<\/td>\n44.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n40.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n3.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n84.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n82.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n2.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Selling, general and administrative expense<\/td>\n<\/td>\n<\/td>\n25.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n24.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n49.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n47.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n2.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Intangible amortization expense<\/td>\n<\/td>\n<\/td>\n0.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Income<\/td>\n<\/td>\n$<\/td>\n18.2<\/td>\n<\/td>\n<\/td>\n$<\/td>\n16.7<\/td>\n<\/td>\n<\/td>\n$<\/td>\n1.5<\/td>\n<\/td>\n<\/td>\n9.0<\/em><\/td>\n%<\/em><\/td>\n<\/td>\n$<\/td>\n33.2<\/td>\n<\/td>\n<\/td>\n$<\/td>\n35.1<\/td>\n<\/td>\n<\/td>\n$<\/td>\n(1.9<\/td>\n)<\/td>\n<\/td>\n(5.4<\/em><\/td>\n)%<\/em><\/td>\n<\/tr>\n
as a percent of revenues<\/td>\n<\/td>\n<\/td>\n13.8<\/td>\n%<\/td>\n<\/td>\n<\/td>\n12.8<\/td>\n%<\/td>\n<\/td>\n<\/td>\n<\/td>\n100 bps<\/em><\/td>\n<\/td>\n<\/td>\n13.2<\/td>\n%<\/td>\n<\/td>\n<\/td>\n13.5<\/td>\n%<\/td>\n<\/td>\n<\/td>\n<\/td>\n-30 bps<\/em><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Detection & Measurement reportable segment<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Revenues<\/td>\n<\/td>\n$<\/td>\n92.1<\/td>\n<\/td>\n<\/td>\n$<\/td>\n101.7<\/td>\n<\/td>\n<\/td>\n$<\/td>\n(9.6<\/td>\n)<\/td>\n<\/td>\n(9.4<\/em><\/td>\n)%<\/em><\/td>\n<\/td>\n$<\/td>\n184.0<\/td>\n<\/td>\n<\/td>\n$<\/td>\n186.8<\/td>\n<\/td>\n<\/td>\n$<\/td>\n(2.8<\/td>\n)<\/td>\n<\/td>\n(1.5<\/em><\/td>\n)%<\/em><\/td>\n<\/tr>\n
Gross profit<\/td>\n<\/td>\n<\/td>\n37.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n46.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n(8.8<\/td>\n)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n79.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n86.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n(6.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Selling, general and administrative expense<\/td>\n<\/td>\n<\/td>\n20.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n22.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n(2.5<\/td>\n)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n42.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n43.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n(1.5<\/td>\n)<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Intangible amortization expense<\/td>\n<\/td>\n<\/td>\n1.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n2.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.6<\/td>\n)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n3.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n3.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Income<\/td>\n<\/td>\n$<\/td>\n16.0<\/td>\n<\/td>\n<\/td>\n$<\/td>\n21.7<\/td>\n<\/td>\n<\/td>\n$<\/td>\n(5.7<\/td>\n)<\/td>\n<\/td>\n(26.3<\/em><\/td>\n)%<\/em><\/td>\n<\/td>\n$<\/td>\n34.2<\/td>\n<\/td>\n<\/td>\n$<\/td>\n38.7<\/td>\n<\/td>\n<\/td>\n$<\/td>\n(4.5<\/td>\n)<\/td>\n<\/td>\n(11.6<\/em><\/td>\n)%<\/em><\/td>\n<\/tr>\n
as a percent of revenues<\/td>\n<\/td>\n<\/td>\n17.4<\/td>\n%<\/td>\n<\/td>\n<\/td>\n21.3<\/td>\n%<\/td>\n<\/td>\n<\/td>\n<\/td>\n-390 bps<\/em><\/td>\n<\/td>\n<\/td>\n18.6<\/td>\n%<\/td>\n<\/td>\n<\/td>\n20.7<\/td>\n%<\/td>\n<\/td>\n<\/td>\n<\/td>\n-210 bps<\/em><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Engineered Solutions reportable segment<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Revenues<\/td>\n<\/td>\n$<\/td>\n146.8<\/td>\n<\/td>\n<\/td>\n$<\/td>\n139.0<\/td>\n<\/td>\n<\/td>\n$<\/td>\n7.8<\/td>\n<\/td>\n<\/td>\n5.6<\/em><\/td>\n%<\/em><\/td>\n<\/td>\n$<\/td>\n301.7<\/td>\n<\/td>\n<\/td>\n$<\/td>\n277.0<\/td>\n<\/td>\n<\/td>\n$<\/td>\n24.7<\/td>\n<\/td>\n<\/td>\n8.9<\/em><\/td>\n%<\/em><\/td>\n<\/tr>\n
Gross profit<\/td>\n<\/td>\n<\/td>\n32.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n26.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n6.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n64.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n47.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n16.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Selling, general and administrative expense<\/td>\n<\/td>\n<\/td>\n14.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n13.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n28.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n26.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Income<\/td>\n<\/td>\n$<\/td>\n17.6<\/td>\n<\/td>\n<\/td>\n$<\/td>\n13.0<\/td>\n<\/td>\n<\/td>\n$<\/td>\n4.6<\/td>\n<\/td>\n<\/td>\n35.4<\/em><\/td>\n%<\/em><\/td>\n<\/td>\n$<\/td>\n35.5<\/td>\n<\/td>\n<\/td>\n$<\/td>\n21.0<\/td>\n<\/td>\n<\/td>\n$<\/td>\n14.5<\/td>\n<\/td>\n<\/td>\n69.0<\/em><\/td>\n%<\/em><\/td>\n<\/tr>\n
as a percent of revenues<\/td>\n<\/td>\n<\/td>\n12.0<\/td>\n%<\/td>\n<\/td>\n<\/td>\n9.4<\/td>\n%<\/td>\n<\/td>\n<\/td>\n<\/td>\n260 bps<\/em><\/td>\n<\/td>\n<\/td>\n11.8<\/td>\n%<\/td>\n<\/td>\n<\/td>\n7.6<\/td>\n%<\/td>\n<\/td>\n<\/td>\n<\/td>\n420 bps<\/em><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
All Other<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Revenues<\/td>\n<\/td>\n$<\/td>\n2.0<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.8<\/td>\n<\/td>\n<\/td>\n$<\/td>\n1.2<\/td>\n<\/td>\n<\/td>\n150.0<\/em><\/td>\n%<\/em><\/td>\n<\/td>\n$<\/td>\n6.0<\/td>\n<\/td>\n<\/td>\n$<\/td>\n(7.1<\/td>\n)<\/td>\n<\/td>\n$<\/td>\n13.1<\/td>\n<\/td>\n<\/td>\n184.5<\/em><\/td>\n%<\/em><\/td>\n<\/tr>\n
Gross profit (loss)<\/td>\n<\/td>\n<\/td>\n(0.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(5.5<\/td>\n)<\/td>\n<\/td>\n<\/td>\n5.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.2<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(24.9<\/td>\n)<\/td>\n<\/td>\n<\/td>\n24.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Selling, general and administrative expense<\/td>\n<\/td>\n<\/td>\n3.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n4.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.6<\/td>\n)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n7.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n7.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Loss<\/td>\n<\/td>\n$<\/td>\n(4.2<\/td>\n)<\/td>\n<\/td>\n$<\/td>\n(10.0<\/td>\n)<\/td>\n<\/td>\n$<\/td>\n5.8<\/td>\n<\/td>\n<\/td>\n(58.0<\/em><\/td>\n)%<\/em><\/td>\n<\/td>\n$<\/td>\n(8.1<\/td>\n)<\/td>\n<\/td>\n$<\/td>\n(32.6<\/td>\n)<\/td>\n<\/td>\n$<\/td>\n24.5<\/td>\n<\/td>\n<\/td>\n(75.2<\/em><\/td>\n)%<\/em><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Consolidated Revenues<\/strong><\/td>\n<\/td>\n$<\/strong><\/td>\n373.2<\/strong><\/td>\n<\/td>\n<\/td>\n$<\/strong><\/td>\n372.4<\/strong><\/td>\n<\/td>\n<\/td>\n$<\/strong><\/td>\n0.8<\/strong><\/td>\n<\/td>\n<\/td>\n0.2<\/strong><\/em><\/td>\n%<\/strong><\/em><\/td>\n<\/td>\n$<\/strong><\/td>\n742.5<\/strong><\/td>\n<\/td>\n<\/td>\n$<\/strong><\/td>\n716.0<\/strong><\/td>\n<\/td>\n<\/td>\n$<\/strong><\/td>\n26.5<\/strong><\/td>\n<\/td>\n<\/td>\n3.7<\/strong><\/em><\/td>\n%<\/strong><\/em><\/td>\n<\/tr>\n
Consolidated Segment Income<\/strong><\/td>\n<\/td>\n<\/td>\n47.6<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n41.4<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n6.2<\/strong><\/td>\n<\/td>\n<\/td>\n15.0<\/strong><\/em><\/td>\n%<\/strong><\/em><\/td>\n<\/td>\n<\/td>\n94.8<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n62.2<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n32.6<\/strong><\/td>\n<\/td>\n<\/td>\n52.4<\/strong><\/em><\/td>\n%<\/strong><\/em><\/td>\n<\/tr>\n
as a percent of revenues<\/strong><\/td>\n<\/td>\n<\/td>\n12.8<\/strong><\/td>\n%<\/strong><\/td>\n<\/td>\n<\/td>\n11.1<\/strong><\/td>\n%<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n170 bps<\/strong><\/em><\/td>\n<\/td>\n<\/td>\n12.8<\/strong><\/td>\n%<\/strong><\/td>\n<\/td>\n<\/td>\n8.7<\/strong><\/td>\n%<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n410 bps<\/strong><\/em><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Total segment income<\/td>\n<\/td>\n$<\/td>\n47.6<\/td>\n<\/td>\n<\/td>\n$<\/td>\n41.4<\/td>\n<\/td>\n<\/td>\n$<\/td>\n6.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n$<\/td>\n94.8<\/td>\n<\/td>\n<\/td>\n$<\/td>\n62.2<\/td>\n<\/td>\n<\/td>\n$<\/td>\n32.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Corporate expense<\/td>\n<\/td>\n<\/td>\n8.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n10.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n(2.0<\/td>\n)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n19.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n22.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n(3.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Long-term incentive compensation expense<\/td>\n<\/td>\n<\/td>\n3.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n3.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n6.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n6.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Special charges, net<\/td>\n<\/td>\n<\/td>\n1.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Other operating (income) expense<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.4<\/td>\n)<\/td>\n<\/td>\n$<\/td>\n1.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n(2.2<\/td>\n)<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Consolidated operating income<\/strong><\/td>\n<\/td>\n$<\/td>\n34.4<\/td>\n<\/td>\n<\/td>\n$<\/td>\n26.3<\/td>\n<\/td>\n<\/td>\n$<\/td>\n8.1<\/td>\n<\/td>\n<\/td>\n30.8<\/em><\/td>\n%<\/em><\/td>\n<\/td>\n$<\/td>\n67.1<\/td>\n<\/td>\n<\/td>\n$<\/td>\n29.3<\/td>\n<\/td>\n<\/td>\n$<\/td>\n37.8<\/td>\n<\/td>\n<\/td>\n129.0<\/em><\/td>\n%<\/em><\/td>\n<\/tr>\n
\u00a0as a percent of revenues<\/td>\n<\/td>\n<\/td>\n9.2<\/td>\n%<\/td>\n<\/td>\n<\/td>\n7.1<\/td>\n%<\/td>\n<\/td>\n<\/td>\n<\/td>\n210 bps<\/em><\/td>\n<\/td>\n<\/td>\n9.0<\/td>\n%<\/td>\n<\/td>\n<\/td>\n4.1<\/td>\n%<\/td>\n<\/td>\n<\/td>\n<\/td>\n490 bps<\/em><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
SPX CORPORATION AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS<\/strong><\/td>\n<\/tr>\n
(Unaudited; in millions)<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nThree months ended<\/strong><\/td>\n<\/td>\nSix months ended<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\nJune 29, 2019<\/strong><\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\nJune 29, 2019<\/strong><\/td>\n<\/tr>\n
Cash flows from (used in) operating activities:<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Net income<\/td>\n<\/td>\n$<\/td>\n27.1<\/td>\n<\/td>\n<\/td>\n$<\/td>\n19.2<\/td>\n<\/td>\n<\/td>\n$<\/td>\n49.8<\/td>\n<\/td>\n<\/td>\n$<\/td>\n18.4<\/td>\n<\/td>\n<\/tr>\n
Less: Loss from discontinued operations, net of tax<\/td>\n<\/td>\n<\/td>\n(1.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(0.2<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(1.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(1.6<\/td>\n)<\/td>\n<\/tr>\n
Income from continuing operations<\/td>\n<\/td>\n<\/td>\n28.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n19.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n51.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n20.0<\/td>\n<\/td>\n<\/tr>\n
Adjustments to reconcile income from continuing operations to net cash from operating activities:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Special charges, net<\/td>\n<\/td>\n<\/td>\n1.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.4<\/td>\n<\/td>\n<\/tr>\n
Gain on change in fair value of equity security<\/td>\n<\/td>\n<\/td>\n(5.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(1.6<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(5.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(7.9<\/td>\n)<\/td>\n<\/tr>\n
Deferred and other income taxes<\/td>\n<\/td>\n<\/td>\n7.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n11.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n4.4<\/td>\n<\/td>\n<\/tr>\n
Depreciation and amortization<\/td>\n<\/td>\n<\/td>\n9.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n8.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n18.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n16.6<\/td>\n<\/td>\n<\/tr>\n
Pension and other employee benefits<\/td>\n<\/td>\n<\/td>\n1.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n2.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n3.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n5.1<\/td>\n<\/td>\n<\/tr>\n
Long-term incentive compensation<\/td>\n<\/td>\n<\/td>\n3.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n3.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n6.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n6.8<\/td>\n<\/td>\n<\/tr>\n
Other, net<\/td>\n<\/td>\n<\/td>\n1.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n2.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.6<\/td>\n<\/td>\n<\/tr>\n
Changes in operating assets and liabilities, net of effects from acquisitions:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Accounts receivable and other assets<\/td>\n<\/td>\n<\/td>\n25.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n23.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n48.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n71.0<\/td>\n<\/td>\n<\/tr>\n
Inventories<\/td>\n<\/td>\n<\/td>\n(5.4<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(3.6<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(28.1<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(18.0<\/td>\n)<\/td>\n<\/tr>\n
Accounts payable, accrued expenses and other<\/td>\n<\/td>\n<\/td>\n(38.5<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(37.6<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(78.9<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(69.8<\/td>\n)<\/td>\n<\/tr>\n
Cash spending on restructuring actions<\/td>\n<\/td>\n<\/td>\n(1.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(1.2<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(1.8<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(2.2<\/td>\n)<\/td>\n<\/tr>\n
Net cash from continuing operations<\/td>\n<\/td>\n<\/td>\n27.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n16.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n29.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n28.0<\/td>\n<\/td>\n<\/tr>\n
Net cash used in discontinued operations<\/td>\n<\/td>\n<\/td>\n(0.4<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(0.6<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(3.5<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(1.5<\/td>\n)<\/td>\n<\/tr>\n
Net cash from operating activities<\/td>\n<\/td>\n<\/td>\n26.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n15.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n26.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n26.5<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Cash flows from (used in) investing activities:<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Proceeds from company-owned life insurance policies, net<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n2.4<\/td>\n<\/td>\n<\/tr>\n
Business acquisition, net of cash acquired<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.2<\/td>\n)<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(77.2<\/td>\n)<\/td>\n<\/tr>\n
Net proceeds from sales of assets<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n5.5<\/td>\n<\/td>\n<\/tr>\n
Capital expenditures<\/td>\n<\/td>\n<\/td>\n(5.8<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(2.5<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(9.4<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(6.2<\/td>\n)<\/td>\n<\/tr>\n
Net cash used in continuing operations<\/td>\n<\/td>\n<\/td>\n(5.8<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(0.8<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(8.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(75.5<\/td>\n)<\/td>\n<\/tr>\n
Net cash from discontinued operations<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/tr>\n
Net cash used in investing activities<\/td>\n<\/td>\n<\/td>\n(5.8<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(0.8<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(8.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(75.5<\/td>\n)<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Cash flows from (used in) financing activities:<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Borrowings under senior credit facilities<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n12.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n178.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n101.6<\/td>\n<\/td>\n<\/tr>\n
Repayments under senior credit facilities<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(22.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(88.7<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(86.8<\/td>\n)<\/td>\n<\/tr>\n
Borrowings under trade receivables financing arrangement<\/td>\n<\/td>\n<\/td>\n10.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n5.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n65.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n45.0<\/td>\n<\/td>\n<\/tr>\n
Repayments under trade receivables financing arrangement<\/td>\n<\/td>\n<\/td>\n(3.0<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(15.0<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(30.0<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(44.0<\/td>\n)<\/td>\n<\/tr>\n
Net borrowings (repayments) under other financing arrangements<\/td>\n<\/td>\n<\/td>\n(0.7<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(0.1<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(1.4<\/td>\n)<\/td>\n<\/td>\n<\/td>\n2.7<\/td>\n<\/td>\n<\/tr>\n
Payment of contingent consideration<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(1.5<\/td>\n)<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/tr>\n
Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options<\/td>\n<\/td>\n<\/td>\n0.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n(2.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(4.8<\/td>\n)<\/td>\n<\/tr>\n
Net cash from (used in) continuing operations<\/td>\n<\/td>\n<\/td>\n6.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n(19.0<\/td>\n)<\/td>\n<\/td>\n<\/td>\n119.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n13.7<\/td>\n<\/td>\n<\/tr>\n
Net cash from discontinued operations<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/tr>\n
Net cash from (used in) financing activities<\/td>\n<\/td>\n<\/td>\n6.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n(19.0<\/td>\n)<\/td>\n<\/td>\n<\/td>\n119.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n13.7<\/td>\n<\/td>\n<\/tr>\n
Change in cash and equivalents due to changes in foreign currency exchange rates<\/td>\n<\/td>\n<\/td>\n(0.6<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(0.5<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(2.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n1.1<\/td>\n<\/td>\n<\/tr>\n
Net change in cash and equivalents<\/td>\n<\/td>\n<\/td>\n27.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n(4.4<\/td>\n)<\/td>\n<\/td>\n<\/td>\n135.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n(34.2<\/td>\n)<\/td>\n<\/tr>\n
Consolidated cash and equivalents, beginning of period<\/td>\n<\/td>\n<\/td>\n163.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n39.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n54.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n68.8<\/td>\n<\/td>\n<\/tr>\n
Consolidated cash and equivalents, end of period<\/td>\n<\/td>\n$<\/td>\n190.2<\/td>\n<\/td>\n<\/td>\n$<\/td>\n34.6<\/td>\n<\/td>\n<\/td>\n$<\/td>\n190.2<\/td>\n<\/td>\n<\/td>\n$<\/td>\n34.6<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
SPX CORPORATION AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n
CASH AND DEBT RECONCILIATION<\/strong><\/td>\n<\/tr>\n
(Unaudited; in millions)<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nSix months ended<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Beginning cash and equivalents<\/td>\n<\/td>\n$<\/td>\n54.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Cash from continuing operations<\/td>\n<\/td>\n<\/td>\n29.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Capital expenditures<\/td>\n<\/td>\n<\/td>\n(9.4<\/td>\n)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Proceeds from company-owned life insurance policies, net<\/td>\n<\/td>\n<\/td>\n1.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Borrowings under senior credit facilities<\/td>\n<\/td>\n<\/td>\n178.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Repayments under senior credit facilities<\/td>\n<\/td>\n<\/td>\n(88.7<\/td>\n)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Net borrowings under other financing arrangements<\/td>\n<\/td>\n<\/td>\n33.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Payment of contingent consideration<\/td>\n<\/td>\n<\/td>\n(1.5<\/td>\n)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options<\/td>\n<\/td>\n<\/td>\n(2.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Cash used in discontinued operations<\/td>\n<\/td>\n<\/td>\n(3.5<\/td>\n)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Change in cash due to changes in foreign currency exchange rates<\/td>\n<\/td>\n<\/td>\n(2.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Ending cash and equivalents<\/td>\n<\/td>\n$<\/td>\n190.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nDebt at<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\nDebt at<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\nDecember 31, 2019<\/strong><\/td>\n<\/td>\nBorrowings<\/strong><\/td>\n<\/td>\nRepayments<\/strong><\/td>\n<\/td>\nAutres<\/strong><\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/tr>\n
Revolving loans<\/td>\n<\/td>\n$<\/td>\n140.0<\/td>\n<\/td>\n<\/td>\n$<\/td>\n178.7<\/td>\n<\/td>\n$<\/td>\n(88.7<\/td>\n)<\/td>\n<\/td>\n$<\/td>\n–<\/td>\n<\/td>\n$<\/td>\n230.0<\/td>\n<\/td>\n<\/tr>\n
Term loan<\/td>\n<\/td>\n<\/td>\n250.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n250.0<\/td>\n<\/td>\n<\/tr>\n
Trade receivables financing arrangement<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n65.0<\/td>\n<\/td>\n<\/td>\n(30.0<\/td>\n)<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n35.0<\/td>\n<\/td>\n<\/tr>\n
Other indebtedness<\/td>\n<\/td>\n<\/td>\n5.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n(1.4<\/td>\n)<\/td>\n<\/td>\n<\/td>\n0.6<\/td>\n<\/td>\n<\/td>\n4.5<\/td>\n<\/td>\n<\/tr>\n
Less: Deferred financing costs associated with the term loan<\/td>\n<\/td>\n<\/td>\n(1.8<\/td>\n)<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.2<\/td>\n<\/td>\n<\/td>\n(1.6<\/td>\n)<\/td>\n<\/tr>\n
Totals<\/td>\n<\/td>\n$<\/td>\n393.5<\/td>\n<\/td>\n<\/td>\n$<\/td>\n243.7<\/td>\n<\/td>\n$<\/td>\n(120.1<\/td>\n)<\/td>\n<\/td>\n$<\/td>\n0.8<\/td>\n<\/td>\n$<\/td>\n517.9<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
SPX CORPORATION AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n
NON-GAAP RECONCILIATION – ORGANIC REVENUE<\/strong><\/td>\n<\/tr>\n
HVAC, DETECTION & MEASUREMENT AND ENGINEERED SOLUTIONS REPORTABLE SEGMENTS<\/strong><\/td>\n<\/tr>\n
(Unaudited)<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nThree months ended\u00a0June 27, 2020<\/strong><\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nCVC<\/strong><\/td>\n<\/td>\nDetection & Measurement<\/strong><\/td>\n<\/td>\nEngineered Solutions<\/strong><\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Net Revenue Growth (Decline)<\/td>\n<\/td>\n1.1<\/td>\n<\/td>\n%<\/td>\n(9.4<\/td>\n)<\/td>\n%<\/td>\n5.6<\/td>\n<\/td>\n%<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: Foreign Currency<\/td>\n<\/td>\n(0.4<\/td>\n)<\/td>\n%<\/td>\n(0.5<\/td>\n)<\/td>\n%<\/td>\n(0.3<\/td>\n)<\/td>\n%<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: Acquisitions<\/td>\n<\/td>\n10.4<\/td>\n<\/td>\n%<\/td>\n–<\/td>\n<\/td>\n%<\/td>\n–<\/td>\n<\/td>\n%<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Organic Revenue Growth (Decline)<\/td>\n<\/td>\n(8.9<\/td>\n)<\/td>\n%<\/td>\n(8.9<\/td>\n)<\/td>\n%<\/td>\n5.9<\/td>\n<\/td>\n%<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
SPX CORPORATION AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n
NON-GAAP RECONCILIATION – REVENUE AND SEGMENT INCOME<\/strong><\/td>\n<\/tr>\n
(Unaudited; in millions)<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
CONSOLIDATED SPX:<\/strong><\/td>\n<\/td>\nThree months ended<\/strong><\/td>\n<\/td>\nSix months ended<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\nJune 29, 2019<\/strong><\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\nJune 29, 2019<\/strong><\/td>\n<\/tr>\n
Consolidated revenue<\/td>\n<\/td>\n$<\/td>\n373.2<\/td>\n<\/td>\n<\/td>\n$<\/td>\n372.4<\/td>\n<\/td>\n<\/td>\n$<\/td>\n742.5<\/td>\n<\/td>\n<\/td>\n$<\/td>\n716.0<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: “All Other” operating segments(1)<\/sup><\/td>\n<\/td>\n<\/td>\n2.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n6.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n(7.1<\/td>\n)<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Adjusted consolidated revenue<\/td>\n<\/td>\n$<\/td>\n371.2<\/td>\n<\/td>\n<\/td>\n$<\/td>\n371.6<\/td>\n<\/td>\n<\/td>\n$<\/td>\n736.5<\/td>\n<\/td>\n<\/td>\n$<\/td>\n723.1<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Total segment income<\/td>\n<\/td>\n$<\/td>\n47.6<\/td>\n<\/td>\n<\/td>\n$<\/td>\n41.4<\/td>\n<\/td>\n<\/td>\n$<\/td>\n94.8<\/td>\n<\/td>\n<\/td>\n$<\/td>\n62.2<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: “All Other” operating segments(1)<\/sup><\/td>\n<\/td>\n<\/td>\n(4.2<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(10.0<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(8.1<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(32.6<\/td>\n)<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: One time acquisition related costs\u00a0(2)<\/sup><\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.9<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(0.1<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(2.2<\/td>\n)<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: Amortization expense\u00a0(3)<\/sup><\/td>\n<\/td>\n<\/td>\n(2.4<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(2.4<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(5.0<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(4.0<\/td>\n)<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Adjusted segment income<\/td>\n<\/td>\n$<\/td>\n54.2<\/td>\n<\/td>\n<\/td>\n$<\/td>\n54.7<\/td>\n<\/td>\n<\/td>\n$<\/td>\n108.0<\/td>\n<\/td>\n<\/td>\n$<\/td>\n101.0<\/td>\n<\/td>\n<\/tr>\n
as a percent of adjusted revenues\u00a0(4)<\/sup><\/td>\n<\/td>\n<\/td>\n14.6<\/td>\n%<\/td>\n<\/td>\n<\/td>\n14.7<\/td>\n%<\/td>\n<\/td>\n<\/td>\n14.7<\/td>\n%<\/td>\n<\/td>\n<\/td>\n14.0<\/td>\n%<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
HVAC REPORTABLE SEGMENT:<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nThree months ended<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\nJune 29, 2019<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
HVAC segment income<\/td>\n<\/td>\n$<\/td>\n18.2<\/td>\n<\/td>\n<\/td>\n$<\/td>\n16.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: One time acquisition related costs\u00a0(2)<\/sup><\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: Amortization expense\u00a0(3)<\/sup><\/td>\n<\/td>\n<\/td>\n(0.7<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(0.1<\/td>\n)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
HVAC adjusted segment income<\/td>\n<\/td>\n$<\/td>\n18.9<\/td>\n<\/td>\n<\/td>\n$<\/td>\n16.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
as a percent of HVAC segment revenues\u00a0(4)<\/sup><\/td>\n<\/td>\n<\/td>\n14.3<\/td>\n%<\/td>\n<\/td>\n<\/td>\n12.8<\/td>\n%<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
DETECTION & MEASUREMENT REPORTABLE SEGMENT:<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nThree months ended<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\nJune 29, 2019<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Detection & Measurement segment income<\/td>\n<\/td>\n$<\/td>\n16.0<\/td>\n<\/td>\n<\/td>\n$<\/td>\n21.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: One time acquisition related costs\u00a0(2)<\/sup><\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.9<\/td>\n)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: Amortization expense\u00a0(3)<\/sup><\/td>\n<\/td>\n<\/td>\n(1.7<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(2.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Detection & Measurement adjusted segment income<\/td>\n<\/td>\n$<\/td>\n17.7<\/td>\n<\/td>\n<\/td>\n$<\/td>\n24.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
as a percent of Detection & Measurement segment revenues\u00a0(4)<\/sup><\/td>\n<\/td>\n<\/td>\n19.2<\/td>\n%<\/td>\n<\/td>\n<\/td>\n24.5<\/td>\n%<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(1)\u00a0<\/sup>Represents the removal of the financial results of our\u00a0South Africa\u00a0and Heat Transfer businesses. Note: These businesses are reported as an “All Other” group of operating segments for\u00a0U.S.\u00a0GAAP purposes due to certain wind-down activities that are occurring within these businesses.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(2)\u00a0<\/sup>Represents one-time acquisition related costs during the six months ended\u00a0June 27, 2020\u00a0related to the HVAC reportable segment and additional “Cost of products sold” recorded during the three and six months ended\u00a0June 29, 2019\u00a0related to the step-up of inventory (to fair value) acquired in connection with the Sabik and Cues acquisitions.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(3)<\/sup>\u00a0Represents amortization expense associated with acquired intangible assets.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(4)<\/sup>\u00a0See “Results of Reportable and Other Operating Segments” for applicable percentages based on GAAP results.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
SPX CORPORATION AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n
NON-GAAP RECONCILIATION – OPERATING INCOME<\/strong><\/td>\n<\/tr>\n
(Unaudited; in millions)<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nThree months ended<\/strong><\/td>\n<\/td>\nSix months ended<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\nJune 29, 2019<\/strong><\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\nJune 29, 2019<\/strong><\/td>\n<\/tr>\n
Operating income<\/td>\n<\/td>\n$<\/td>\n34.4<\/td>\n<\/td>\n<\/td>\n$<\/td>\n26.3<\/td>\n<\/td>\n<\/td>\n$<\/td>\n67.1<\/td>\n<\/td>\n<\/td>\n$<\/td>\n29.3<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Aggregate operating losses of the\u00a0South Africa\u00a0and Heat Transfer businesses\u00a0(1)<\/sup><\/td>\n<\/td>\n<\/td>\n(4.6<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(10.9<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(8.7<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(33.5<\/td>\n)<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
One-time acquisition related costs\u00a0(2)<\/sup><\/td>\n<\/td>\n<\/td>\n(0.1<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(1.1<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(0.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(4.0<\/td>\n)<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Other operating income\/expense\u00a0(3)<\/sup><\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n(1.8<\/td>\n)<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Amortization expense\u00a0(4)<\/sup><\/td>\n<\/td>\n<\/td>\n(2.4<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(2.4<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(5.0<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(4.0<\/td>\n)<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Adjusted operating income<\/td>\n<\/td>\n$<\/td>\n41.5<\/td>\n<\/td>\n<\/td>\n$<\/td>\n40.7<\/td>\n<\/td>\n<\/td>\n$<\/td>\n80.7<\/td>\n<\/td>\n<\/td>\n$<\/td>\n72.6<\/td>\n<\/td>\n<\/tr>\n
as a percent of adjusted revenues\u00a0(5)<\/sup><\/td>\n<\/td>\n<\/td>\n11.2<\/td>\n%<\/td>\n<\/td>\n<\/td>\n11.0<\/td>\n%<\/td>\n<\/td>\n<\/td>\n11.0<\/td>\n%<\/td>\n<\/td>\n<\/td>\n10.0<\/td>\n%<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(1)<\/sup>\u00a0Represents the removal of the financial results of these businesses, inclusive of “special charges” of\u00a0$0.4\u00a0and\u00a0$0.9\u00a0during the three months ended\u00a0June 27, 2020\u00a0and\u00a0June 29 2019, respectively, and\u00a0$0.6\u00a0and\u00a0$0.9\u00a0during the six months ended\u00a0June 27, 2020\u00a0and\u00a0June 29 2019, respectively.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(2)<\/sup>\u00a0Represents one-time acquisition related costs during the three months ended\u00a0June 27, 2020\u00a0and\u00a0June 29, 2019\u00a0associated with (i) inventory step-up of\u00a0$0.0\u00a0and\u00a0$0.9, respectively, and (ii) integration and transaction costs of\u00a0$0.1\u00a0and\u00a0$0.2, respectively, and one-time acquisition related costs during the six months ended\u00a0June 27, 2020\u00a0and\u00a0June 29, 2019\u00a0associated with (i) inventory step-up of\u00a0$0.0\u00a0and\u00a0$2.2, respectively, and (ii) integration and transaction costs of\u00a0$0.3\u00a0and\u00a0$1.8, respectively.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(3)<\/sup>\u00a0Represents income\/expense associated with revisions to estimates of certain liabilities retained in connection with the 2016 sale of the dry cooling business.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(4)<\/sup>\u00a0Represents amortization expense associated with acquired intangible assets.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(5)<\/sup>\u00a0See “Results of Reportable and Other Operating Segments” for applicable percentages based on GAAP results.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
SPX CORPORATION AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n
NON-GAAP RECONCILIATION – EARNINGS PER SHARE<\/strong><\/td>\n<\/tr>\n
Three Months Ended\u00a0June 27, 2020<\/strong><\/td>\n<\/tr>\n
(Unaudited; in millions, except per share values)<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\nGAAP<\/strong><\/td>\n<\/td>\nAdjustments<\/strong><\/td>\n<\/td>\nAdjusted<\/strong><\/td>\n<\/tr>\n
Segment income\u00a0(1)<\/sup><\/td>\n$<\/td>\n47.6<\/td>\n<\/td>\n<\/td>\n$<\/td>\n6.6<\/td>\n<\/td>\n<\/td>\n$<\/td>\n54.2<\/td>\n<\/td>\n<\/tr>\n
Corporate expense\u00a0(2)<\/sup><\/td>\n<\/td>\n(8.5<\/td>\n)<\/td>\n<\/td>\n<\/td>\n0.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n(8.4<\/td>\n)<\/td>\n<\/tr>\n
Long-term incentive compensation expense<\/td>\n<\/td>\n(3.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(3.3<\/td>\n)<\/td>\n<\/tr>\n
Special charges, net\u00a0(3)<\/sup><\/td>\n<\/td>\n(1.4<\/td>\n)<\/td>\n<\/td>\n<\/td>\n0.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n(1.0<\/td>\n)<\/td>\n<\/tr>\n
Operating income<\/strong><\/td>\n<\/td>\n34.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n7.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n41.5<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Other income, net\u00a0(<\/sup>4<\/sup>)<\/sup><\/td>\n<\/td>\n5.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n(5.1<\/td>\n)<\/td>\n<\/td>\n<\/td>\n0.7<\/td>\n<\/td>\n<\/tr>\n
Interest expense, net<\/td>\n<\/td>\n(4.7<\/td>\n)<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(4.7<\/td>\n)<\/td>\n<\/tr>\n
Income from continuing operations before income taxes<\/strong><\/td>\n<\/td>\n35.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n2.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n37.5<\/td>\n<\/td>\n<\/tr>\n
Income tax provision\u00a0(<\/sup>5<\/sup>)<\/sup><\/td>\n<\/td>\n(7.1<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(1.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(8.4<\/td>\n)<\/td>\n<\/tr>\n
Income from continuing operations<\/strong><\/td>\n<\/td>\n28.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n29.1<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Dilutive shares outstanding<\/td>\n<\/td>\n45.648<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n45.648<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Earnings per share from continuing operations<\/strong><\/td>\n$<\/td>\n0.62<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.64<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(1)<\/sup>\u00a0Adjustment primarily represents the removal of (i) operating losses associated with the\u00a0South Africa\u00a0and Heat Transfer businesses ($4.2) and (ii) amortization expense associated with acquired intangible assets ($2.4).<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
(2)<\/sup>\u00a0Adjustment represents the removal of acquisition related expenses incurred during the period.<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
(3)\u00a0<\/sup>Adjustment represents the removal of restructuring charges associated with the Heat Transfer business.<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
(4)<\/sup>\u00a0Adjustment represents the removal of (i) a gain on an equity security associated with a fair value adjustment ($5.3) and (ii) non-service pension and postretirement charges ($0.2).<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(<\/sup>5<\/sup>)<\/sup>\u00a0Adjustment represents the tax impact of items (1) through (5) above.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
SPX CORPORATION AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n
NON-GAAP RECONCILIATION – EARNINGS PER SHARE<\/strong><\/td>\n<\/tr>\n
Three Months Ended\u00a0June 29, 2019<\/strong><\/td>\n<\/tr>\n
(Unaudited; in millions, except per share values)<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\nGAAP<\/strong><\/td>\n<\/td>\nAdjustments<\/strong><\/td>\n<\/td>\nAdjusted<\/strong><\/td>\n<\/tr>\n
Segment income\u00a0(1)<\/sup><\/td>\n$<\/td>\n41.4<\/td>\n<\/td>\n<\/td>\n$<\/td>\n13.3<\/td>\n<\/td>\n<\/td>\n$<\/td>\n54.7<\/td>\n<\/td>\n<\/tr>\n
Corporate expense\u00a0(2)<\/sup><\/td>\n<\/td>\n(10.5<\/td>\n)<\/td>\n<\/td>\n<\/td>\n0.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n(10.3<\/td>\n)<\/td>\n<\/tr>\n
Long-term incentive compensation expense<\/td>\n<\/td>\n(3.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(3.3<\/td>\n)<\/td>\n<\/tr>\n
Special charges, net\u00a0(3)<\/sup><\/td>\n<\/td>\n(1.3<\/td>\n)<\/td>\n<\/td>\n<\/td>\n0.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.4<\/td>\n)<\/td>\n<\/tr>\n
Operating income<\/strong><\/td>\n<\/td>\n26.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n14.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n40.7<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Other income, net\u00a0(4)<\/sup><\/td>\n<\/td>\n1.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.4<\/td>\n)<\/td>\n<\/td>\n<\/td>\n1.5<\/td>\n<\/td>\n<\/tr>\n
Interest expense, net<\/td>\n<\/td>\n(4.7<\/td>\n)<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(4.7<\/td>\n)<\/td>\n<\/tr>\n
Income from continuing operations before income taxes<\/strong><\/td>\n<\/td>\n23.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n14.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n37.5<\/td>\n<\/td>\n<\/tr>\n
Income tax provision\u00a0(5)<\/sup><\/td>\n<\/td>\n(4.1<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(3.1<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(7.2<\/td>\n)<\/td>\n<\/tr>\n
Income from continuing operations<\/strong><\/td>\n<\/td>\n19.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n10.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n30.3<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Dilutive shares outstanding<\/td>\n<\/td>\n44.892<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n44.892<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Earnings per share from continuing operations<\/strong><\/td>\n$<\/td>\n0.43<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.67<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(1)<\/sup>\u00a0Adjustment represents the removal of (i) operating losses associated with the\u00a0South Africa\u00a0and Heat Transfer businesses ($10.0), (ii) inventory step-up charges related to the Cues and Sabik acquisitions ($0.9), and (iii) amortization expense associated with acquired intangible assets ($2.4).<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
(2)<\/sup>\u00a0Adjustment represents the removal of acquisition related expenses incurred during the period.<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
(3)<\/sup>\u00a0Adjustment represents the removal of restructuring charges associated with the\u00a0South Africa\u00a0and Heat Transfer businesses.<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
(4)<\/sup>\u00a0Adjustment represents the removal of (i) a gain on an equity security associated with a fair value adjustment ($1.6), (ii) non-service pension and postretirement charges ($1.0) and (iii) removal of foreign currency losses associated with the South African projects ($0.2).<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(5)<\/sup>\u00a0Adjustment represents the tax impact of items (1) through (4) above.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

\"SPX_LOGO_Horizontal_RGB<\/a><\/p>\n

Source: SPX Corporation<\/p>","protected":false},"excerpt":{"rendered":"

Q2 GAAP EPS of\u00a0$0.62; Adjusted EPS* of\u00a0$0.64 Balanced Portfolio Supported Strong Q2 Results Successfully Navigating COVID-19 Challenges CHARLOTTE, N.C.,\u00a0July 30, 2020\u00a0(GLOBE NEWSWIRE) —\u00a0SPX Corporation\u00a0(NYSE:SPXC) today reported results for the quarter ended\u00a0June 27, 2020. Gene Lowe, President and CEO, remarked, \u201cI am very pleased with our second quarter performance, which reflects solid operational execution and highlights […]<\/p>","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[24],"tags":[],"dipi_cpt_category":[],"class_list":["post-2199","post","type-post","status-publish","format-standard","hentry","category-earnings"],"acf":[],"yoast_head":"\nSPX Reports Second Quarter 2020 Results - SPX Technologies in Charlotte, NC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/spx.com\/fr\/spx-reports-second-quarter-2020-results\/\" \/>\n<meta property=\"og:locale\" content=\"fr_CA\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SPX Reports Second Quarter 2020 Results - SPX Technologies in Charlotte, NC\" \/>\n<meta property=\"og:description\" content=\"Q2 GAAP EPS of\u00a0$0.62; Adjusted EPS* of\u00a0$0.64 Balanced Portfolio Supported Strong Q2 Results Successfully Navigating COVID-19 Challenges CHARLOTTE, N.C.,\u00a0July 30, 2020\u00a0(GLOBE NEWSWIRE) —\u00a0SPX Corporation\u00a0(NYSE:SPXC) today reported results for the quarter ended\u00a0June 27, 2020. 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